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<br /> I The re,gular meeting. of the, Common.,Coun,ci,l of .Eugene held December 9, I
<br /> ~'l 1946 at. 7 :30. P.M. The Meeting was called to order by his Honor, Mayor ..Earl McNutt.
<br /> c"''l Councilmen present at rollcall were - Koppe, Hawn, Davis, Crumbaker, Bailey,
<br /> {~ Penningt.on" Johnson and., Allen.,
<br /> ~~I Upon motion the minutes of the last regular meeting, held November 12, 1946, were
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<br /> I consi.der.e.d read. and, ap_p:r:oved..
<br /> 1 This being the date set- for the. o,pening of bids on. t!Ie. sale 01'_ $50,000
<br /> I General, Obligation Bonds for the purchase of the Mill Race rig~t-of-way and
<br /> I $14,095.98 in Bancroft Improvement Bonds, the City Manager reported the receipt of
<br /> J the following. bids:
<br /> I United Stat.es National Bank, Eugene Branch
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<br /> First National Bank of Eugene
<br /> Chas. N. Tripp Company, Portland, Oregon_
<br /> Upon motion the"bidswer.e ,orcie.r,ed. opened and. were scheduled as follows:
<br /> J50,000.00 GENERAL OBLIGATION BONDS
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<br /> 1 i U. S. National Bank, Eugene Branch - 1 1/4% per annum
<br /> :' Total. premi.um.- $45.00, .
<br /> : First National Bank,of Eugene - 3/4% per annum at $99.65 per hundred
<br /> (net yield .92%)
<br /> / J14, 095. 98, BANCROFT IMPROVEMENT BmillS
<br /> : U. S. National Bank, Eugene Branch - 1 1/2% per annum ,
<br /> I Par...plus total pr emium - $23.80
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<br /> I - 1 1/2% per annum
<br /> : First National Bank of Eugene I
<br /> I Par pl~s .01 percent,
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<br /> i - 1 1/2% per annum
<br /> ! Chas. N. Tripp Company
<br /> 100.07 per each ,$100.00 face value thereof.
<br /> It was moved by Johnson, second,ed by Hawn.that the bid of th.e First National Bank
<br /> of Eugene on. the issue.' of $50,000.00 GeneraL Obligation. .Bpnds be accepted and the
<br /> : proper officers of the City be instructed to prepare and deliver the bonds all in
<br /> ! accordance with the provisions of city ordinances and state law governing the sale
<br /> r of bonds.
<br /> It was moved, by Johnson" seconded. by Hawn tha.t. the bid of the. Eugene Branch
<br /> ,; United States NationaL Bank. for $14,095.98. City of Eugene. Bancroft Improvement
<br /> i Bonds, Series "A" be accepted and the proper city officers .authorized to prepare
<br /> : and deliver these bonds all in accordance with provisions of city ordinances and
<br /> : state law governing the sale.-afbonds.
<br /> REPORTS OF COMMITTEES
<br /> A report of the Finance Committee re: Emergency Expenditures and transfe
<br /> of monies. w.as submitted and, read as follows:
<br /> ,
<br /> 2 I "Your Committee on Finance to whom was referred various matters begs to
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<br /> ! report as follows:
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<br /> , That we.. have considered a matter of emergency exp.endi.tures from. the
<br /> I Equipme.nt. Renewal and Repair Appropria tion in. the Police Department. budget for
<br /> : 1946-19.47, which. have resulted primarily from. thee,quipping and increased operation
<br /> . of automotive equipment. Because of the emergency nature of this expense, unan-
<br /> : ticipated at the time. of the. preparation of the. budge,t, i,t is the Committee's
<br /> t recommendation that the sum 01'$1,116.58 be transferred from the Emergency Fund,
<br /> miscellaneous classification, to Equipment Repair and Renewal account, Police
<br /> Department budget.
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<br /> I It- is further.recommended that the. sum of $500.00 be transferred from
<br /> I
<br /> : the Emergency Fund, miscellaneous classification, to the budget of the City
<br /> ,Manager, this amount to be set up as an emergency revolving fund to be expended
<br /> ! upon. the dir.ection, of the, City Council.
<br /> i It. Wl;l.S moved by. Johns.on, seconded, by Hawn that the report be received and placed
<br /> ion file and that the recommendations contained therein be adopted. Motion carried.
<br /> 'Rollcall - all Councilmen present voting AYE.
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